Notes to the consolidated financial statements - Efacec

More documents

Recommendations

Info

E. Other Notes 22. Contingencies 22.1 Guarantees The company has contingent liabilities for bank guarantees and others, and other contingencies connected with its business. It is not believed that any signifi cant liabilities will arise from the contingent liabilities. 22.1 Commitments 70 2008 2007 Bank Guarantees 93,810,566 36,135,702 Investment commitments There are no commitments assumed by the company to acquire tangible or intangible fi xed assets. Commitments for operational leases – where the Group is lessee The company leases a number of vehicles through irrevocable leasing contracts. The contracts have various lease periods, readjustment clauses and renewal rights. At the date of the balance sheet, the company continued to have Long-Term Rental contracts (“Renting”) considered as operational leases, for which future rental payments due totalled 176,714 Euro, with the following maturity dates: 23. Transactions with related parties 2008 2007 Within 1 year 66,343 74,801 Between 1 and 5 years 110,371 124,997 Over 5 years 0 0 176,714 199,798 Those entities which have a qualifi ed shareholding in the group are: Efacec Sistemas de Gestão, S.A. 49.20% Têxtil Manuel Gonçalves, S.A. 25.40% José de Mello - SGPS, S.A. 25.40% The following transactions took place with related parties (Group companies, Associates and Directors): 23.1 Transactions in 2008 and 2007 2008 2007 Financial transactions Group companies Loans granted 24,674,954 14,393,837 Loans received 11,255,546 12,373,840 Dividends received Associated companies 20,693,654 26,469,663 Dividends received Shareholders 1,790 0 Loans received 1,195,000 7,100,000 8,471,036 31,549,665 %
2008 2007 Current transactions Group companies Operatinonal income and gains 8,573,926 6,239,808 Operational costs and losses 253,998 399,109 Financial income and gains 3,085,694 1,653,563 Financial costs and losses Shareholders 77,428 981,718 Operatinonal income and gains 450,406 30,000 Operational costs and losses 356,774 350,963 Financial costs and losses 358,558 52,079 11,063,268 6,139,503 The commercial conditions under which these transactions and services took place were under the same conditions for independent third parties. 23.2 Final balances resulting from commercial transactions 2008 2007 Debts owed by related parties Group companies Loans granted 41,997,890 17,479,207 Customers and income accruals (note 7) 0 205,589 Others debtors and deferred costs (note 8) Shareholders 9,055,925 3,581,181 Customers and income accruals (note 7) 0 33,781 Others debtors and deferred costs (note 8) Other entities 59,941 313,195 Others debtors and deferred costs (note 8) 22,711 22,711 51,136,467 21,635,665 2008 2007 Debt to related parties Group companies Loans received 1,064,926 12,320,471 Suppliers (Note 13) 603,980 0 Other creditors (note 13) Shareholders 473,568 3,016,873 Loans received 8,295,000 7,100,000 Suppliers (Note 13) 430,381 0 Other creditors (note 13) Other entities 194,879 101,625 Other creditors (note 13) 11,576 11,576 11,074,310 22,550,545 71 2008 Consolidated and Individual Financial Statements
Page 2:
1 2 Index Consolidated Financial St
Page 5 and 6:
Non-current assets EFACEC Capital,
Page 7 and 8:
EFACEC Capital, S.G.P.S., S.A. and
Page 9 and 10:
EFACEC Capital, S.G.P.S., S.A. and
Page 11 and 12:
In view of the fact that applying t
Page 13 and 14:
1.5 Tangible Fixed Assets Land and
Page 15 and 16:
1.11 Accounts receivable from custo
Page 17 and 18:
2. Financial risk management 2.1 Fa
Page 19 and 20: C. Segment Information 3. Reporting
Page 21 and 22: D. Notes to the Balance Sheets as a
Page 23 and 24: 22 31.12.2008 31.12.2007 ATM - Assi
Page 25 and 26: 24 31.12.2008 31.12.2007 Opening ba
Page 27 and 28: 9. Customers and accrued income The
Page 29 and 30: 14. Suppliers, other creditors and
Page 31 and 32: Companies and has period of 5 years
Page 33 and 34: At variable rates 32 31.12.2008 31.
Page 35 and 36: The amount shown as a reduction in
Page 37 and 38: 24. Dividends per share The dividen
Page 39 and 40: 27.1 Transactions in 2008 and 2007
Page 41 and 42: 31.12.2008 31.12.2007 Associated co
Page 43 and 44: G. List of companies consolidated 3
Page 45 and 46: (f) This company is held by the gro
Page 47 and 48: 47 2008 Consolidated and Individual
Page 49 and 50: Efacec Capital, SGPS, S.A. Consolid
Page 51 and 52: Merger Reserve Other Reserves Retai
Page 53 and 54: A. General information Notes to the
Page 55 and 56: in the profi t and loss account of
Page 57 and 58: 1.16 Subsidies Subsidies received a
Page 59 and 60: C. Notes on the Balance Sheets as a
Page 61 and 62: a) The last accounts available were
Page 63 and 64: 9. Stocks The company features no s
Page 65 and 66: The fair value of current and non-c
Page 67 and 68: Revaluation Options Total As at 1 d
Page 69: 19. Income Tax The reconciliation o
Page 73 and 74: To the Shareholders, Report and Opi
show all

Notes to the consolidated financial statements - Efacec

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?